BetaKit is the official online sponsor of the MasterCard N>XT Developer Challenge!

We’re incredibly proud to announce that BetaKit is the official online sponsor of the upcoming MasterCard N>XT Developer Challenge! This is an intense 2-day event that’s taking place on September 28th and 29th in Toronto.

The goal of MasterCard N>XT is for coders and developers to create the “next big innovation in mobile payments.” As I’m sure you’re aware, the mobile banking and mobile payment space in Canada has received a warm welcome, but a slow adoption rate. A recent survey showed that 47% of of Canadians with smartphones would consider using their device to make payments if they could.

The MasterCard N>XT Developer Challenge wants to bring the next wave of secure mobile payment apps to the forefront. MasterCard and their partners are putting up $30,000 in prize money and it’ll be split into three categories of $10k each: A professional app developer category, a student category and a CIBC people’s choice prize. MasterCard also notes that “Winning teams will also have the opportunity to pitch their concept to the CIBC Mobile Banking Leadership Team.”

The event will only hold 20 teams, each consisting of 3-5 people, and you can check out all the details here at MasterCard N>XT dedicated site. We’ll be at the event and will bring you all the latest news and app ideas. Other esteemed sponsors are MaRS, CIBC, Rogers and XTREME Labs.